Canada Economic Calendar

Canada's economy is a highly developed mixed-market economy that ranks ninth in the world. The Canadian dollar (CAD) is the country's official currency and one of the top ten most-traded currencies.

The private sector predominates, but certain sectors (postal services, some electric utilities, and some transportation services) are still state-owned. Although Canadian agriculture is entirely private, to compete with the heavily supported agricultural industries of the European Union (EU) and the United States, Canadian agriculture has grown to rely on government subsidies.

The greatest sources of revenue for the Canadian federal government are personal and corporate income taxes, while its three largest costs are Social Security, Medicare, and the Supplemental Nutrition Assistance Program.

Individual income tax rates in Canada are higher than in the United States, which, along with usually better pay south of the border, drives many professionals to seek work in the United States.

The Bank of Canada (BOC) is Canada's central bank, responsible for issuing the Canadian Dollar and responsible for the monetary policy decisions.

The Governing Council of the Bank of Canada (BoC) is in charge of setting the overnight rate which is official Interest Rate in Canada. Since 1996, the overnight rate on the money market has been set at the top of a range of rates.